Following a red carpet screening of the ten finalist films at the world’s oldest film festival in Venice, juror and award winning actor, Michael Fassbender took to the stage to announce that “The Guilt” by David Victori has been selected as the first grand prize winner of Your Film Festival on YouTube.

See the finalists arrive at Venice Film Festival and Michael Fassbender announce the winner

From over 15,000 entries, the YouTube community voted to choose 10 finalists who flew to Venice Film Festival. The Your Film Festival jury of luminaries, which included Sir Ridley Scott as well as Michael, chose the winning film. David has won $500,000 to create a new project on YouTube with the support of the jurors and Scott Free Productions. Subscribe to David’s channel and watch as he begins his new project with Ridley and Michael.

This weekend, the filmmakers behind the ten films you selected as the Your Film Festival finalists, will travel to another film festival – the world’s oldest, in Venice. There, they’ll pitch their idea for a new YouTube project to the Your Film Festival jury and have the chance to win $500,000 to make their idea a reality with the support of Sir Ridley Scott, Michael Fassbender, and Scott Free Productions.

Subscribe to the channel to catch the latest news and return on Monday 3rd after the finalist film screening has taken place in Venice, when we’ll announce the Grand Prize Winner. In the meantime, meet the ten finalists in the video below and watch their short films on the channel.

Today, we are one step closer to finding the world’s next great storyteller. Over 15,000 filmmakers entered Your Film Festival but only ten finalists remain, each with the hope of winning $500,000 to produce new content with actor Michael Fassbender, director Ridley Scott and his world class team.

During the past month, 3 million people got involved with Your Film Festival by watching, sharing, and voting for their favorite films. After tallying the votes, we’re excited to announce our ten finalists:

The finalists will soon travel to Italy where they will have their short films screened at the historic Venice Film Festival. They will also pitch a new project idea to Ridley Scott’s production team who, along with the jury including Michael Fassbender, will ultimately name the grand prize winner at a special ceremony on September 2, 2012, in Venice. As part of their journey to Venice, Emirates has invited the filmmakers to stopover in Dubai for a series of events celebrating their achievement.

Join these filmmakers as they travel to Venice and stay tuned to the Your Film Festival channel where we’ll take you behind the scenes, tell you more about the finalists, provide special edition movie posters, and of course, unveil the winner.

The Scott Free team selected 50 semi-finalists from more than 15,000 short films submitted by creators worldwide. Now, it’s up to you, the fans, to vote for your favorites, and ultimately send 10 finalists to the Venice Film Festival.

At Venice, these 10 filmmakers will have their work screened as part of the opening days of the festival and judged by a grand prize jury of industry professionals, including Ridley Scott and actor Michael Fassbender. (Not familiar with either? Watch this trailer for the summer’s blockbuster film Prometheus now). The finalists will then pitch their next film project to the Ridley Scott team, all for the chance to win a $500,000 production grant to work with Ridley Scott’s award-winning team to create a new original work for YouTube.

So what are you waiting for? Vote for your favorite films on the Your Film Festival channel, and be part of the largest online film festival ever. Voting ends July 13, so cast your votes now!

On February 2, we opened submissions to Your Film Festival, a competition to find the world's best storytellers and connect them with a global audience. Created in partnership with Ridley Scott and Scott Free London, the Venice Film Festival, and Emirates, Your Film Festival will send 10 finalists, as chosen by you, to the 2012 Venice Film Festival where a grand prize winner will receive $500,000 to work on their next project.

Today, we'd like to introduce the newest member of the Your Film Festival team, award-winning actor Michael Fassbender.

Fassbender joins Ridley Scott as a Your Film Festival juror, as well as co-executive producer on the winner's grand prize project. This means that he and Ridley will work together to produce the winner’s next film project! With credits including Shame, X-Men: First Class, 300 and Inglorious Basterds, Michael brings world-class experience ranging from some of the biggest blockbusters to the most critically acclaimed indies.

If you haven't submitted yet, consider this your 1-month warning. Submissions close on March 31 at midnight ET. For more information, check out the Your Film Festival channel.

One of the best parts of working at YouTube is helping connect creative voices from around the globe with the audiences they deserve. So, we've teamed up with Ridley Scott and Scott Free London, the Venice Film Festival, and Emirates to create Your Film Festival, a global competition that will provide one deserving entrant with a half million US dollars to work on their next great story. Here’s an overview:

Starting February 2, you can submit your short, story-driven videos (15 minutes or less) on Youtube.com/yourfilmfestival. Entry is free and open to people 18 years of age and above, and all genres and formats are welcome: live action short, animation, documentary, web-series episode, TV pilot — you name it. Your video must be story-driven, and cannot have been publicly shown or distributed prior to January 1, 2010. Full rules are available on the Your Film Festival Channel.

From there, the Scott Free team will select 50 semi-finalists from across the globe by June 2012. YouTube users will then vote for their favorites to select 10 finalists, whose videos will then be screened at the 2012 Venice Film Festival. A jury led by Ridley Scott will crown one grand prize winner, who will receive a $500,000 production grant to work with Scott’s team to create a new story for the world to see.